At least 5.7 million people, or 26 percent of the population in Sri Lanka, require humanitarian assistance, the International Federation of Red Cross and Red Crescent Societies (IFRC) has said in a report.The IFRC Needs Assessment Report for October 2022 warned that without immediate humanitarian assistance, and ‘upstream’ interventions to address the fragility of systems, […]

By Amal Jayasinghe Inflation in crisis-hit Sri Lanka dipped marginally for the first time in 12 months but prices were still an eye-watering 66 percent higher than a year ago, official data showed Monday. The island nation of 22 million people has suffered months of extreme economic hardship

By Rebecca Bundhun India’s economy and equity markets are outperforming most of their global peers. Despite a slew of challenges including macroeconomic headwinds stemming from Russia’s war in Ukraine, elevated crude oil prices and tightening liquidity globally, the growth story of Asia’s third-largest economy remains intact. “The Indian economy and equity markets proved to be [&...

Sri Lanka’s worst post-war economic crisis represents a major blow to the country’s progress towards achieving the United Nations’ Sustainable Development Goals (SDGs), efforts that were already hobbled by the COVID pandemic. However, the situation is also providing impetus to the work of academics

Faithful urged to refrain from making Christmas a ‘mere occasion for external celebrations’ Catholic bishops have urged devotees to provide medicines and dry rations for the needy at a time when Sri Lankan is mired in crises.The Catholic Bishops’ Conference of Sri Lanka (CBCSL), in a statement released on Oct. 28, urged people to be […]

"The government should step in and set a rate, but instead they are making obnoxious statements."

By Meera Sirinivasan As Sri Lankans continue braving their worst economic crisis since Independence, urban poverty on the island has tripled in the last year, from 5% to 15 %, according to a recent World Bank report.Sri Lanka is experiencing “its highest poverty rate since 2009

By SHIHAR ANEEZ Leaving his family and relatives was the hardest decision for Suren. But he had no other option.He never wanted to go abroad for work. An accountant by profession, Suren even had the opportunity to be promoted for a higher post at the private firm he was working at in Colombo. But he was […]

by Rajan Philips The Petroleum Products (Special Provisions) (Amendment) Bill had a quiet passage in parliament with a majority of 60 votes, 77 for and 17 against. What is disquieting is that only 94 of the 224 MPs (excluding the Speaker) were in parliament for the vote on a Bill on petroleum products, the mismanagement […]

The demand to develop and put into practice new and innovative sustainable lifestyle methods that contribute towards a greener economy continues to surge, now more than ever as Sri Lanka sees itself in the wake of an economic crisis. The recent fuel hikes seen the world over along with the rise

We will give our storage facilities and pipelines for a fee.

By Rathindra Kuruwita The government must reveal the losses incurred by the Ceylon Petroleum Corporation (CPC) since 2008 due to the prevention of cost-reflective pricing, and tell the people how it planed to recover the losses, former Minister of Energy, and leader of Pivithuru Hela Urumaya (PHU), Udaya Gamnapila, said.Gammanpila said that CPC trade unions […]

Weekend power cuts reduced with rain

By Hiran H. Senewiratne The CSE’s business sentiment was impaired yesterday following the Central Bank raising Rs 16 billion out of a required Rs 75 billion via Treasury Bills at a weekly auction, which amounted to just 22 per cent of the total issued on the previous day. Besides, President Ranil Wickremesinghe’s public statement on […]

By Rathindra Kuruwita Three private bus associations yesterday said a countrywide bus strike would commence from 25 October night if the government and leasing companies did not grant them relief until March 2023.Inter-Provincial Private Bus Association (IPPBA) Secretary Anjana Priyanjith said most bus owners were not able to pay lease installments due to the current […]